Jun 2016 – GCP achieves successful exit after FLYdocs and Lufthansa Technik enter strategic global partnership
Growth Capital Partners achieves successful exit after FLYdocs and Lufthansa Technik enter strategic global partnership
Aviation data and records management software provider, FLYdocs, today announced a strategic and game changing global industry partnership with Lufthansa Technik AG, one of the world’s largest providers of technical services for commercial aircraft. Believing in the tremendous positive effects of digital transformation in the aviation industry, Lufthansa Technik decided to participate in the growing market of digital records management by jointly accelerating an industry change, with FLYdocs’ unique experience and expertise.
Under this agreement, Lufthansa Technik has become a shareholder in the FLYdocs business, replacing Private Equity partner GCP who invested in FLYdocs in April 2015, with this transaction generating a strong return for GCP’s investors. However, FLYdocs will remain a separate, independently operated entity that will continue to drive industry wide change under the incumbent management team.
Richard Shaw, Investment Director at Growth Capital Partners commented:
“It has been a pleasure backing Adrian and Anne Ryan and the wider management team at FLYdocs and playing a key role in supporting the fast growth and development of such an exciting technology company. When we invested we saw the huge growth potential of FLYdocs with its leading position at the forefront of the digital transformation of aircraft engineering records and online lease transitions. We are delighted that a new strategic partner has been found in Lufthansa Technik with the resources to support the team in its further global expansion plans and we wish all at FLYdocs the best for the exciting times ahead.”
Adrian Ryan, CEO of FLYdocs commented
“Anne and I have enjoyed our partnership with GCP immensely and wish to thank Richard, Ravi and James for supporting our accelerated growth plans so attentively. GCP have added huge value to the FLYdocs business, supporting and delivering on our growth plans in every way possible. Their technology and sector understanding has been invaluable and they have gone over and above in their readiness and willingness to back a game-changing and disrupting player in the aviation technology space.”
Together FLYdocs and Lufthansa Technik will develop and deliver transformational digital services for the aviation industry for many years to come.